Last week's performance of Ethereum was somewhat lackluster, forming a long-legged doji, reflecting a tug-of-war between bulls and bears at high levels—neither side could fully overpower the other. Currently, the price is trapped at the end of a triangle consolidation, with decreasing volatility, like a stretched spring that could erupt directionally at any moment.

From a technical perspective, strong resistance is around 3180-3200. If this level cannot hold, it will be difficult to open a path to break above 3300. On the downside, support must be maintained at 3100-3080, which is the bottom line for the correction. If this area is broken with increased volume, the risk will quickly expand to 3050 or even 3000.

The market is currently dithering within this narrow range. My strategy is to avoid chasing rallies and not to panic-sell. I plan to patiently wait for the price to rebound to around 3180. If the hourly MACD shows bearish divergence or forms a long upper shadow indicating a slowdown, I will consider a light short position, targeting the 3100-3060 range, with a stop-loss 20 dollars above the recent high. Conversely, if the price breaks through 3200 with increased volume, I will follow with a short-term long to participate in the accelerated breakout of the triangle pattern.

It’s important to note that the ETH reserves on exchanges have been increasing recently, which indicates potential selling pressure to watch out for. On the other hand, from a monthly perspective, the support at 2850-2900 has not been broken, so the medium-term outlook remains not overly pessimistic. The key to navigating this current volatile situation is still light positions and strict stop-losses—an essential discipline to protect capital.